Bitcoin price today: gains to $120k, near record high on U.S. regulatory cheer
Investing.com-- Paul Atkins- President Donald Trump's nominee for the Chairman of the U.S. Securities and Exchange Commission- was approved by the Senate on Wednesday.
Atkins, who takes over from former Chair Gary Gensler, is expected to oversee the scaling back of regulations, reduce disclosure requirements, and is also expected to hold a friendlier stance on digital assets and cryptocurrencies.
Atkins was confirmed in a 52-44 vote. The new SEC Chair is a long-time Wall Street consultant, and had served as a SEC commissioner from 2002 to 2008.
Atkins takes the lead SEC role at a time of heightened volatility for financial markets, as they grapple with President Trump’s flip-flopping on his plans for trade tariffs.
Trump on Wednesday announced a 90-day extension for his plans to impose steep, “reciprocal” tariffs on major global economies- a move that sparked stellar gains on Wall Street.
But China was excluded from this extension, with Trump hiking cumulative trade duties against Beijing to 125% from 104%.